Wausau, Wisconsin Bank Lends Money to Rubber And Plastics Hoses And Belting Manufacturing Company in Athens, Wisconsin

Thinking about meeting with a Wausau, Wisconsin bank about an SBA loan? Here's one Wisconsin business loan, issued by a Wausau bank, that was approved by the SBA.

Applying for an SBA loan with Peoples State Bank worked out well for our friends at one local business in Athens, Wisconsin. They received an SBA loan for $100,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: RUBBER AND PLASTICS HOSES AND BELTING MANUFACTURING
ATHENS, WI 54411

SBA Loan Lender

PEOPLES STATE BANK
1905 STEWART AVE
WAUSAU, WI 54401

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

326220 - Rubber and Plastics Hoses and Belting Manufacturing

Loan Approval Date

9/25/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the borrowed money would help generate 8 new jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Peoples State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Angel Investors

Banks in Wausau, Wisconsin

Where to Get an SBA Loan Wisconsin